Zacks Investment Research Downgrades Strongbridge Biopharma (NASDAQ:SBBP) to Sell

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Zacks Investment Research lowered shares of Strongbridge Biopharma (NASDAQ:SBBP) from a hold rating to a sell rating in a research note published on Saturday, Zacks.com reports.

According to Zacks, “Strongbridge Biopharma PLC is a biopharmaceutical company which develops, acquires and commercializes product candidates that target rare diseases. Its product candidate consists of COR-003, is a cortisol inhibitor, for the treatment of endogenous Cushing’s syndrome, COR-004 and COR-005 to treat acromegaly, BP-2001, the treatment of diabetes which are in different clinical trial. Strongbridge Biopharma PLC is based in Trevose, Pennsylvania. “

Other research analysts have also issued reports about the company. Oppenheimer restated a buy rating and set a $6.00 price target on shares of Strongbridge Biopharma in a research report on Wednesday, May 6th. Craig Hallum initiated coverage on Strongbridge Biopharma in a research report on Tuesday, March 3rd. They set a buy rating and a $7.50 price target for the company. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Strongbridge Biopharma has a consensus rating of Buy and an average target price of $8.65.

Shares of Strongbridge Biopharma stock opened at $3.78 on Friday. The firm has a market capitalization of $221.33 million, a price-to-earnings ratio of -3.71 and a beta of 1.59. Strongbridge Biopharma has a fifty-two week low of $1.43 and a fifty-two week high of $4.63. The stock has a 50 day moving average of $3.58 and a 200 day moving average of $2.72.

Strongbridge Biopharma (NASDAQ:SBBP) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.03. The company had revenue of $6.67 million during the quarter, compared to analyst estimates of $5.97 million. Strongbridge Biopharma had a negative return on equity of 57.46% and a negative net margin of 181.82%. Equities research analysts predict that Strongbridge Biopharma will post -0.93 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Advisers LP purchased a new position in Strongbridge Biopharma in the first quarter valued at $56,000. Panagora Asset Management Inc. boosted its holdings in Strongbridge Biopharma by 1,348.0% in the fourth quarter. Panagora Asset Management Inc. now owns 33,361 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 31,057 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Strongbridge Biopharma by 16.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 34,240 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 4,814 shares during the period. Barclays PLC boosted its holdings in Strongbridge Biopharma by 91.5% in the fourth quarter. Barclays PLC now owns 37,077 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 17,718 shares during the period. Finally, Oxford Asset Management LLP boosted its holdings in Strongbridge Biopharma by 8.5% in the fourth quarter. Oxford Asset Management LLP now owns 44,640 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 3,483 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.

Strongbridge Biopharma Company Profile

Strongbridge Biopharma plc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases with unmet needs. The company's commercial products include Keveyis, an oral carbonic anhydrase inhibitor for treating hyperkalemic, hypokalemic, and related variants of primary periodic paralysis in the United States; and Macrilen, an oral growth hormone secretagogue receptor agonist for use in the diagnosis of patients with adult growth hormone deficiency.

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